Tall & Urban News

Deyaar Development has announced a project named Downtown Residences, a 445-meter residential project set to rise over 110 floors near Sheikh Zayed Road, Downtown Dubai, and Business Bay. The twin-tower development will include 522 homes, from one- to three-bedroom apartments to duplexes, penthouses, and a signature “royal palace” at the summit. 

Structured in five vertical zones, the tower will feature a suite of luxury amenities such as floating gardens, air yoga zones, meditation pods, and wellness hubs. A “summit society” at the 100th floor will house exclusive lounges, dining venues, and a screening room. The residents' club will include AI-powered workspaces, private executive pods, and networking hubs for business leaders.

The launch is part of the developer’s broader Dh8 billion pipeline for 2025, aiming to double sales to Dh4 billion amid continued demand from high-net-worth individuals and younger buyers relocating to the UAE. The announcement comes as Dubai’s property market shows sustained strength, buoyed by government initiatives like long-term residency programs and economic diversification. In 2023, real estate transactions reached Dh761 billion (US$207.2 billion), a 20 percent increase from the previous year. While property prices surged 19 percent last year, with villa prices jumping over 20 percent, Fitch Ratings has warned of a possible 15 percent price correction due to expected oversupply, as deliveries in 2025–26 are projected to double compared to previous years.

Still, projects like Downtown Residences reflect Dubai’s evolving skyline and its continued global appeal for luxury property investors. Completion of the project is scheduled for Q4 2030.

Learn more at The National News.